May 30, 2008: 4:41 PM EDTSANTO DOMINGO, Dominican Republic (AP) -- The Dominican Republic has bought out Royal Dutch Shell PLC's share of a jointly owned oil refinery in a bid to stabilize fuel prices, the government said Friday.
May 30th, 2008:
Dominican Republic buys out Shell refinery stake
Global Demand Squeezing Natural Gas Supply
CAMERON PARISH, La. The cost of a gallon of gas gets all the headlines, but the natural gas that will heat many American homes next winter is going up in price as fast or faster.
TNK-BP board member quits over shareholders’ row
Mounting state pressure on the firm, including the arrest of an employee on an industrial espionage charge, a raid on its Moscow offices and a court injunction to stop it using BP specialists, are signs the time to sell is approaching, analysts say.
Geese covered in oil; Four birds shunned by other fowl
Until you get close enough to notice these Canada geese are covered with a black, oil-like discolouration. "It's a sad sight," said Shell Sarnia refinery spokesperson Kristina Zimmer.
“I Was Shot by Soldiers Bought and Paid for by Chevron”
Editor's note: this is a statement given to Chevron's annual shareholders' meeting by Larry Bowoto, a lead plaintiff in Bowoto v. Chevron, which will come to trial in federal court in San Francisco in September. See here for background.
Shell to Take 33% Stake in Turkish Oil Pipeline, MEES Reports
Shell would use the link to transport crude from the Kashagan field in Kazakhstan, the Cyprus-based weekly newsletter said, without saying where it got the information. Shell and Eni are major shareholders in the Kashagan development, due to come on stream in 2012 or 2013, according to MEE
U.S. Probes Crude Oil Trading for Price Manipulation (Update3)
May 30 (Bloomberg) -- The U.S.Commodity Futures Trading Commission, the watchdog for commodity transactions, is investigating U.S. crude oil trading to determine whether the surge to record prices is the result of manipulation or fraud.
Nigeria to Regulate its Oil Industry, President Yar’Adua Says
``The law states that that money belongs to the Nigerian National Petroleum Corporation,'' Yar'Adua said, adding that he had found out that the oil firms had reached agreements with previous governments that exempted them from paying tax in breach of the law.
Five kestrel chicks at top of chimney stack delaying work on £350m Shell gas terminal
Shell is undertaking a major refit at the site and work on the column is being delayed until the chicks leave. It could be another three months before they fly the nest.
Buenos Aires Citizens Seek Cleanup of Shell Refinery
The complaint calls for immediate action by the company to redress the social and environmental harms caused to the community and to the local environment by the refinery at the Polo Petroquímico Dock Sud during decades of abuse and irresponsible corporate behavior.
Regulators Step Up Probes Of Trading in Oil Markets
The move Thursday by the Commodity Futures Trading Commission, including its unusual announcement of an investigation in progress, comes after crude-oil prices topped $130 a barrel last week and tested all-time highs.
Oil Majors Say U.S. Restrictions Delay Iran Projects
Despite an urgent need to replenish reserves, Anglo-Dutch oil giant Royal Dutch Shell PLC and Spanish-Argentine Repsol YPF said they wouldn't sign a $10 billion contract to enter South Pars, the Iranian side of a giant natural-gas field shared with Qatar. Instead, the two oil giants are considering entering later phases of the project.
Intrigue in Russia Ensnares BP Venture
In 2006, Shell sold control of a major project in Russia to Gazprom after Russian environmental regulators threatened to shut it down. The regulatory problems, which were widely seen as a pressure tactic by the Kremlin, cleared up within weeks after Gazprom took over.
TNK-BP Russian shareholders scupper meeting
Crucial talks between BP and its Russian partners in TNK-BP, the Russian oil venture, broke down as the Russian billionaire shareholders failed to attend a scheduled board meeting in Cyprus amid a stand-off for control of the company, two people familiar with the situation said.
Petronas backs Santos LNG project
Groups that had expressed an interest in the Gladstone project included Royal Dutch Shell, ConocoPhillips of the US, Eni of Italy, Repsol of Spain, andSempra, owner of the largest US natural gas utility.
U.S. oil probe focusing on price manipulation: report
NEW YORK (Reuters) - A U.S. regulatory probe into potential oil-market trading abuses is focusing on possible short-term manipulation of benchmark crude prices and the use of information related to important oil storage tanks to influence prices, the Wall Street Journal reported on Friday.
Energy boss with the wind in his sails
Shell has pulled out of the world's biggest offshore wind farm, the London Array, off the Kent and Essex coasts, amid soaring costs;
He does accept that Shell's decision to concentrate on the US, where the biggest and most attractive opportunities in the wind business exist, is part of a wider trend.
Burning food: why oil is the real villain in the food crisis
The rising cost of foods is widely being blamed on the use of grains for biofuels, and the case for the prosecution is simply made.
Oil prices to be probed by US regulator CFTC
America's leading commodities regulator has launched an unprecedented investigation into possible market manipulation in the US crude oil market amid record prices which continue to cripple various parts of the global economy.
HSBC £120m directors’ package set for protest
Royal Dutch Shell recently had to acknowledge a large protest vote, after a third of investors opposed plans to give three directors 1m (£785,000).
Nigeria: Shell – Pengassan Threatens Mass Action
Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) yesterday warned that, it would mobilise the 15,000 workforce in the oil and gas industry for a prolonged mass action against Shell Petroleum Development Company (SPDC) if it should go ahead with its plan to sack 2000 of its 7000 workers.
Colo. gets $35 million from Army, Shell for arsenal cleanup
Shell Oil Co., which made pesticides and other chemicals at the Rocky Mountain Arsenal, will provide $21 million in cash and land under an agreement announced Thursday to settle a 25-year-old state lawsuit. The Army and the federal government are providing the rest.
Shell, Army OK $35M arsenal-pollution settlement
Shell Oil and the U.S. Army which produced all manner of nasty chemicals from 1942 until 1982 at the arsenal, northeast of downtown Denver have agreed to pay the state $35 million in damages for polluting groundwater at the arsenal, state Attorney General John Suthers said today.
Shell, Army reach $35M Arsenal settlement with state
Shell Oil Co. and the federal government have agreed to a $35 million payout to settle the state of Colorado's quarter-century-old lawsuit over pollution at the Army's former Rocky Mountain Arsenal on the outskirts of Denver.
The Nigerian Rebel Who ‘Taxes’ Your Gasoline
Okah may be in prison, but the organization he leads, Movement for the Emancipation of the Niger Delta (MEND) continues to wreak havoc on international oil companies operating in the Niger Delta, sabotaging facilities and kidnapping personnel. And that limits Nigeria's output, and keeps global oil prices climbing.